Critical Materials Future Act: Supporting Domestic Processing and Supply Chain Security
This Act establishes a $750 million pilot program aimed at supporting the domestic processing and recycling of critical materials essential for modern technology and energy security. The goal is to reduce U.S. reliance on foreign supply chains, particularly those controlled by countries deemed risky, thereby ensuring supply stability and strengthening national security. These investments are intended to stabilize the prices and availability of end products like batteries and advanced components.
Key points
Establishment of a pilot program to financially support at least three domestic projects for processing critical materials (e.g., rare earth metals).
Utilization of innovative financial tools (such as price floors and contracts for difference) to stabilize the market and encourage private investment in domestic processing facilities.
Prioritization of projects using raw materials sourced from the U.S. or trusted allies to enhance energy and national security.
Authorization of $750 million for the program and creation of a revolving fund to reinvest generated revenues.
Status:
Expired
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